...- Norway-based oil and gas exploration and production company Vsr Energi AS operates purely on the Norwegian Continental Shelf and has a long history and expertise in this region, which we consider as geopolitically stable. - We consider Vsr Energi to be well diversified within Norway, reducing risks associated with concentration on a single or few assets and the company is run conservatively in our view with regards to insurance and hedging policies. - Vsr Energi is planning a capital market transaction, switching its capital structure to a senior unsecured structure with a bond and corporate facilities. - We assigned our preliminary '###' long-term issuer credit rating to Vsr Energi. - The stable outlook reflects our expectation that the company will continue to expand in Norway while funds from operations (FFO) to debt will remain at about 45%, well in line with our threshold for the rating level, while discretionary cash flow (DCF) will remain at least neutral over the business cycle....
